Egyptian fintech startup oliv has made history by becoming the first company to receive a digital factoring license from the Financial Regulatory Authority (FRA). This milestone positions the startup as a pioneer in the country’s evolving fintech landscape, offering seamless invoice financing solutions to small and medium-sized enterprises (SMEs).
The license, granted under Fintech Law No. 5 of 2022 and FRA Decree 268 of 2023, marks the first business lending approval tailored specifically for venture-backed fintech firms. This allows oliv to provide fully digital factoring and reverse-factoring services, eliminating the need for complex manual processes.
“This unique license allows us to directly finance SMEs from our balance sheet with the simplest and fastest digital experience in the market. We are currently in strategic partnership discussions with several local banks and venture debt providers to diversify our funding sources and further support local SMEs with our innovative product,” said Hatem Sabry, oliv’s CFO.
A Fast and Seamless Financing Solution
Unlike traditional lending models, oliv’s platform requires no additional technology integration from clients and delivers funding in less than 48 hours. By offering quick and hassle-free financing, the startup aims to bridge the liquidity gap for SMEs that often struggle with cash flow issues.
Looking ahead, oliv has ambitious expansion plans. By 2028, the company aims to extend its factoring services to over 5,000 businesses, further strengthening its role in Egypt’s financial ecosystem.
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